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Indian delegation seek closer ties with Chinese firms
By Wang Yanlin |
August 19, 2010, Thursday
|
Online Edition
Online Edition
INDIA expects to become a bigger business partner of China and welcomes Chinese investment into its infrastructure and manufacturing sectors. It also hopes to export value-added technologies to China.
A delegation of 70 companies in sectors ranging from IT and machinery to pharmaceuticals and agriculture are in Shanghai this week, seeking business opportunities and celebrating India's national day at the World Expo on Wednesday.
"China and India are becoming more interdependent," said V K Topa, managing director of Invest India, at a conference today in Shanghai. "As the world's two most populous countries, China and India are together because many issues in today's business world are relevant to both of us."
China is India's second-largest trading partner while the number of Chinese investors in India is also on the rise.
Bilateral trade has been expanding at a rate of more than 40 percent in recent years. China's imports from India surged 75.3 percent to US$13.3 billion in the first seven months of this year from the same period last year, while exports to India jumped 40.1 percent to US$22.1 billion, according to China's Customs.
Topa said India is a big and lucrative market for Chinese investors when everything is just taking off, and India has the "skills" China needs to upgrade its manufacturing structure.
Sha Hailin, chairman of the Shanghai Commission of Commerce, said China, especially Shanghai, can learn a lot from India, particularly in the service outsourcing sector.
"We should further promote collaboration between China and India and have more exchanges in investment, technology, projects and research," Sha said.
Chinese companies such as ZTE Corp and China Wireless Technologies Ltd have already entered India for market potentials there.
A delegation of 70 companies in sectors ranging from IT and machinery to pharmaceuticals and agriculture are in Shanghai this week, seeking business opportunities and celebrating India's national day at the World Expo on Wednesday.
"China and India are becoming more interdependent," said V K Topa, managing director of Invest India, at a conference today in Shanghai. "As the world's two most populous countries, China and India are together because many issues in today's business world are relevant to both of us."
China is India's second-largest trading partner while the number of Chinese investors in India is also on the rise.
Bilateral trade has been expanding at a rate of more than 40 percent in recent years. China's imports from India surged 75.3 percent to US$13.3 billion in the first seven months of this year from the same period last year, while exports to India jumped 40.1 percent to US$22.1 billion, according to China's Customs.
Topa said India is a big and lucrative market for Chinese investors when everything is just taking off, and India has the "skills" China needs to upgrade its manufacturing structure.
Sha Hailin, chairman of the Shanghai Commission of Commerce, said China, especially Shanghai, can learn a lot from India, particularly in the service outsourcing sector.
"We should further promote collaboration between China and India and have more exchanges in investment, technology, projects and research," Sha said.
Chinese companies such as ZTE Corp and China Wireless Technologies Ltd have already entered India for market potentials there.
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